HDFC ties up with Indian Post Payments Bank for Home loan distribution

In one of it’s kind of arrangements (especially for HDFC Limited), HDFC has tied up with Indian Post Payments Bank (IPPB) for home loan distribution. Key points to note – IPPB has about 4.7 crore customers. HDFC’s idea here seems to get aggressive on affordable housing. HDFC said, “The partnership aims to facilitate HDFC Ltd.’s … Read more

HDFC Bank and Paytm tie up to leverage on each other’s strengths

2017 – “payment wallets like Paytm have no future” – Aditya Puri 2021 – HDFC and Paytm tie-up to leverage on each other’s strengths. Times change and so do the business compulsions ! It’s a very interesting arrangement and has the potential to lay roadmap for similar other tie-ups in future. Why is it so? … Read more

Paytm, HDFC Bank tie up to develop payment products for new online ventures

IPO-bound digital payments firm Paytm and India’s largest private sector bank, HDFC Bank, announced a strategic partnership to build comprehensive solutions across payment gateway, point of sale machines and credit products including Paytm Postpaid which is Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay.   The partnership will aim to empower new … Read more

HDB Financial Services Q1 net profit nosedives on Covid-19 impact

HDB Financial Services Ltd (HDBFSL’s), subsidiary of HDFC Bank, posted a sharp drop (43.9 per cent) in net profit at Rs 130.6 crore in the first quarter ended June 2021 (Q1FY22) from Rs 232.7 crore a year ago. The second wave of Covid-19 hit the business volumes and collections in Q1FY22. HDBFSL’s net income in … Read more

RBI appoints external firm to audit HDFC Bank’s IT infrastructure

HDFC Bank on Tuesday said the Reserve Bank of India (RBI) has appointed an external IT firm for carrying out a special audit of its IT infrastructure in the aftermath of repeated service outages at the country’s largest private sector lender over the past two years. “RBI has appointed an external professional IT firm for … Read more

Flurry of senior-level exits at HDFC Bank points to likely revamp

Since March, the bank has seen the exits of Abhay Aima, group head of private banking; Ashok Khanna, group head of secured vehicle loans; and Munish Mittal, chief information officer—all HDFC Bank veterans and close aides of its long-time managing director Aditya Puri. People aware of the matter have pointed to an expected top management … Read more

HDFC Bank probes lending practices at vehicle unit

HDFC Bank Ltd has conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operation involving the unit’s former head, according to people familiar with the matter. India’s most valuable lender by market capitalization decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an … Read more

Three private banks pare stake in Yes Bank within 14 days of investing

Mumbai: After mounting an effort to rescue Yes Bank last month, three private sector lenders have already sold part of their stakes between 17 March and 31 March, showed shareholding data from BSE. The highest number of shares were sold by Federal Bank at 5.86 crore, followed by Kotak Mahindra Bank at 4.72 crore and … Read more